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Gold Forms Inside Bar At Support, More Upside? Dec. 6th

Today Gold formed an inside bar which followed a 2-way bar from Weds. I suspect have the suspicion the massive selling in Gold is some form of unwinding portfolios for the end of the year, or profits taken from Gold's rise as other asset classes have under-performed.

Either way, near term resistance is at the $1705 level which already rejected weds. If it clears this, then the doors are open for a move up to $1715. Any break below $1685 sets up a trip towards the critical $1673 lows which are the 3-mos low for the precious metal.

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